Professional Indemnity Insurance

Professional Indemnity Insurance protects you from claims if your client holds you responsible for errors, or the failure of your work to perform as promised in your contract.

Coverage includes legal defence costs - no matter how baseless the allegations. PI Insurance will pay for any resulting judgments against you, including court costs, up to the coverage limits on your policy.


Why do I need Professional Indemnity Insurance?

A Professional will hold himself or herself out as having a special skill, which can be relied upon by another. Consequently the law requires that the Professional exercise the required skill to an appropriate level expected by that profession. Professionals are only human and mistakes do happen. Any financial loss, injury or damage arising from a mistake or failure by the Professional to exercise the required level of skill may mean that an award is made in favour of a person who suffers a loss, damage or injury. A Professional may also be held to be liable for a mistake even though there was no negligence.


Who is a Professional?

Anyone who gives to another person advice and/or services of a skilful character according to an established discipline might be regarded as a 'Professional'. That means persons other than those in 'traditional' Professions, such as doctors and lawyers, are now considered to be Professionals i.e. Consultants, Advertising agents, trade associations, Accountants, Architects, Financial Planners and fund managers.


What protection will Professional Indemnity Insurance provide?

A Professional Indemnity insurance policy aims to shield the Professional's assets in the event of a claim therefore ensuring that he/she is able to carry on their business. Every policy on the market is different and our role as brokers is to compare policies and to ensure you obtain the correct insurance for your profession.

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